Chinese leader Xi Jinping met more than a dozen US CEOs and academics on Wednesday as Beijing renewed efforts to woo back foreign investors and mend strained relations with the United States.
Foreign direct investment in China has slumped in recent months as a combination of slower growth, regulatory crackdowns, onerous national security legislation and questions about the country’s long-term prospects have shaken confidence in the world’s second biggest economy. The group of CEOs included Cristiano Amon of Qualcomm , Raj Subramaniam of FedEx and Stephen Schwarzman of the Blackstone Group .
Beijing is trying to revive confidence and stabilize foreign trade and investment as the country faces its biggest economic challenges in decades. It has rolled out a series of measures since last year, including a 24-point action plan published by the cabinet earlier this month, to attract foreign investment and expand market access in high-tech sectors. But global investors remain wary of China’s rising scrutiny of Western companies as well as a structural slowdown.
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